Limiter

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Acoustics: A device that's set to limit a signal from exceeding a specific level. This keeps all of the equipment that follows the limiter from overloading (assuming the limiter is adjusted properly). Limiters are required to be used on IEM (in-ear-monitor) systems to reduce the possibility of ruining someone's hearing with feedback or other loud sounds. Source: Church Audio & Acoustics Glossary

Electronics: A circuit which limits the peak amplitudes of signal waveforms to a predetermined level.